submitted by MxLawal to u/MxLawal [link] [comments]
Many people erroneously believed that no one can make profit consistently through forex trading. Often times, they blame others for their losses while forgetting that they are responsible to decide whether their trade ends up in profit or loss.
“Champions never complain, they are too busy getting better”– John WoodenFor those who have the right mindset that they are going to be among the few who make a fortune by making profit consistently in the financial markets; they always take up the challenge to identify the problems and find solutions to improve themselves. They always have the inner drive and determination to find their trading mistakes and fix the problems which will help them to improve and become an expert trader. This positive attitude is very crucial in helping a loser to become a winner in forex trading. If people like Warren Buffet and George Soros can make a good life trading the financial markets, why can’t anyone who is ready to learn, consistently review and improve his/her trading plan, do it better?
From my own personal experience in trading the financial markets, I want to humbly share the following problems and really hope that it will help other traders to trade better and become winners in forex trading.
Although, there may be more, these are the Eight common problems I have encountered and heard many other traders struggle with in their process of making profit consistently in forex trading:
(1) Too early entry (Emotional triggers)
(2) Too late entry (Doubting your analysis)
(3) Too early exit (Panic Take Profit)
(4) Too late exit (Greedy delay)
(5) Holding on to losing trades against the market trend (Stubborn traps)
(6) Using too high lot sizes (Over leveraging your account)
(7) Poor money management (Investing more than 2% of your account balance or equity on one trade)
(8) Poor risk-reward ratio (Having too many open trades running simultaneously)
Steps to diagnose Trading Problems(1) Check your trades at the end of each trading week; mostly on Saturday or Sunday evenings.
(2) Review your trading log or Account History. Make sure you are very honest and practical with yourself. This is about money. It is better to criticize yourself very hard than to regret losing your hard-earned money due to cheap errors or mistakes.
By honestly following the steps above, you should be able to identify any of the Eight Common problems listed above. This will help you to know which of the problems is most commonly affecting your trading outcome or reducing your profit.
When you have successfully discovered this highly important problem or problems (if more than one), then you can focus on solving them sequentially, starting from the most frequent to the least common as revealed during the review of your trading log or Account history weekly.
It is important that you never stop conducting the weekly review, so as to constantly learn and improve for better trading. Doing this consistently will help you to personally understand your own psychology and problematic behaviours or habits and also see if you are improving or not. With your commitment to this self-improvement process, you will surely become an expert in forex trading and your capacity to make profit consistently will improve significantly. Then you will become a forex winner for life!
“Learn from your losses, and improve your analysis for higher profit”.
If you can carefully follow the steps and work towards avoiding the Eight Common problems mentioned above, there is higher chance that you will be able to trade better and achieve more profits in Forex Trading. Most especially when you choose a reliable forex broker like OlympTrade due to their unique and innovative trading platform.
Considering my years of trading experience using the OlympTrade website or mobile App, I sincerely assure you of making consistent profits, if you take personal responsibility by identifying and fixing the Eight Common problems highlighted above. By now, I hope you are more confident that you can make profits consistently and live a good life through forex trading.
Thanks for reading and adding your own comment to this article.
Trade to win!
The Olymp Trade analysts were the main participants of Profit Challenge&Quest held in March. In OneDollarChallenge, traders will be taking part as well! Who, When and How. Our new OneDollarChallenge will take place on the official Olymp Trade YouTube channels from June 22 to July 4, 2020. The results will be summed up on July 6. The event will ... Forex weekend trading has seen conventional working week hours extended over Saturday and Sunday. This article will explain how to use the popular weekend gap trading strategy. We’ll also unpack everything you need to trade forex during the weekend, including brokers and key trading times. If you want to have professional Forex trading, Olymp Trade is a trading platform that deserves attention with many outstanding advantages. Low investment capital with high potential profits . The minimum deposit amount in Olymp Trade is only $10. The minimum investment amount for each transaction is only $1. In addition, when trading Forex at Olymp Trade, you can use the leverage feature to ... Trading on the Olymp Trade platform involves high-risk investment. Do not invest funds that you are not prepared to lose. Before you start, we advise that you become familiar with the rules and conditions of trading outlined on our site. Any examples, tips, strategies and instructions on the site do not constitute trading recommendations and are not legally binding. Olymp Trade is a trading ... Low volume – Forex weekend trading hours stretch across both Saturday and Sunday. When London closes up shop, Hong Kong is still going strong. Weekend gold and oil trading markets are very similar. The problem is, at some points trading volume will be extremely low. This results in flat markets and unhelpful charts. Olymp Trade - Forex Market Reviews. 20 Nov, 2019 Wall St. bullishness returns. Chile's $300bn a year economy that has been running at a rate above 3% YoY is now expected to shrink as early as this quarter due to widespread... 13 Nov, 2019 Continued China Weakness. China reported new bank loans dropped to the lowest level in two years as manufacturers held back due to trade uncertainties and ... Olymp Trade runs just like any other forex trading. So the platform runs for 24 hours, from Monday to Friday, nonstop. As long as the market is open, during which time you have a trading opportunity to gain profit. However, you need to know the ri... Saturday, Nov 7, 2020 . TradeStrategi . Pusat Informasi Forex trading terbaik dan Terpercaya di Indonesia. Trade; OlympTrade. Berbisnis Opsi Biner dengan Olymp Trade; Aplikasi Olymp Trade; Olymp Trade Login ; Cara Bermain Olymp Trade; Olymp Trade Penipuan atau Tidak; Cara menang di Olymp Trade; Cara Deposit Olymp Trade; Olymp Trade Demo; Binomo. Apa Itu Binomo; Inilah Cara Bermain Binomo ... A pleasant plus is to start trading with Olymp Trade. You will not need to check your email for the verification letter. There is an opportunity to start a trial trade on the Demo account without restrictions on the use of time. You will also have an amount of $ 10,000 in cash that can be used in the trading process at any convenient time, and even after the actual commerce begins. But it is ... In 2014 my trading career had begun as an extra job. However, after two years it had grown to a full-time job. Since then I trade various financial instruments on the Olymp Trade platform, including Forex, Stocks, Digital options, CFD and Cryptocurrencies. Trading is my passion. I am oriented at continuous development, which results in ...
[index]          
We are going to trade on Forex and FTT at the same time using different asset groups: 1. Monday 22.06.20 – Major Currency Pairs 2. Wednesday 24.06.20 – Cross Currency Pairs 3. Saturday 27.06 ... Olymp Trade- In this video, I have traded Olymp trade live account "VIP" trading. I have explained how to trade Forex markets and some basic points to be con... register on https://tds.kingfin.com/921024/ https://www.youtube.com/watch?v=kKipdsEYTO8 https://thegamemakerisback.blogspot.com/ then add me on Skype: mhossa... Olymp Trade introduces a new feature: trading indicators in the platform! Now you can analyze the market situation while opening real-time trades. In this vi... • REGISTRASI OLYMPTRADE DENGAN MENUNGGANAKAN LINK INI DAN DAPATKAN BONUS DEPOSIT 100% KEDALAM AKUN ANDA : https://bit.ly/Bonusdepositeolymptradeindonesia • R... Try free: https://bit.ly/2B6uMTz ★★Best Binary Broker List★★ ----- RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK -----... For extra benefits and fast withdrawal you can sign up from here olymp trade - http://tiny.cc/AviOlymp based on - Olymp Trade Best Trading Strategy Olymptr... TONTON VIDEO INI UNTUK MENGGANDAKAN DEPOSIT KALIAN - https://bit.ly/32T90P6 Telegram group - https://t.me/moneyhoneyAS DI TELEGRAM Сara memulai trading di Ol... Binary option has been on and changing life. And I have been making some cool cash with my best broker (Olymp trade). If you wish to know more just like my v... How to start trade forex binary in olymptrade Olymp trade ... join now ... http://1safe.link/fuobv or http://1safe.link/jqTOH Simple steps to start trading o...